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UK Creditor Insurance 2010
Datamonitor, April 2010, Pages: 94
Introduction
The report provides an in-depth analysis of the UK creditor insurance market in 2009, providing estimates for market size and growth by product line. The report also explores the latest regulatory issues affecting the market and provides the reader with three possible forecasts for GWP growth up to 2014.
Scope
-UK creditor insurance market sizing and forecast under multiple lending and regulatory scenarios.
-In depth analysis of the underlying consumer credit market including the size of the market for personal loans, mortgages, retail and motor finance.
-A discussion of the FSA's work on the creditor market and the current Competition Commission investigation and appeal.
Highlights
The personal loan PPI books of the few distributors in the market are thought to have benefited from higher penetration rates as consumers become focused on the need for this cover in the recession. However, the widespread withdrawal from the market by distributors means that market-level penetration is well below previous figures.
Pinnacle offers a range of creditor insurance products that protect repayments on mortgages, loans, credit cards and overdrafts. It also provides creditor insurance, which protects the repayments on hire purchase, contract hire and leasing agreements.
The POS ban recommended by the CC will be the most significant depressing factor on creditor insurance GWP going forward. Datamonitor envisages a market where the ban goes into effect in 2011, which will have particular implications for the personal loan PPI and motor finance PPI markets.
Reasons to Purchase
-Benchmark your creditor insurance premium income against your competitors.
-Plan your future strategy using The forecast of the future growth of the creditor insurance market.
-Keep up to date with the latest regulatory developments taking place in the market.
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